Uniform field theory of corporate finance While the agency and precautionary-motive stories are complementary, these stories can be nested as special cas

In the past decades, capital market liberalization and globalization have combined to connect global financial markets to allow an ocean of money to flow th

Corporate America uses Trump tax cuts and offshore cash stockpiles primarily to fund share repurchases for better stock market valuation. Share repurchases

The U.S. bank oligarchy has become bigger, more profitable, and more resistant to public regulation after the global financial crisis. Simon Johnson and

The global asset management industry is central to modern capitalism. Mutual funds, pension funds, sovereign wealth funds, endowment trusts, and asset ma

Michael Sandel analyzes what money cannot buy in stark contrast to the free market ideology of capitalism. Michael Sandel (2013)   What money